Steel Dynamics, Inc. (NASDAQ:STLD) Receives $30.55 Consensus PT from Analysts

Steel Dynamics, Inc. (NASDAQ:STLD) has earned an average recommendation of “Hold” from the fourteen analysts that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $30.55.

A number of research firms have recently weighed in on STLD. ValuEngine downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a report on Friday, May 1st. UBS Group dropped their target price on Steel Dynamics from $43.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Credit Suisse Group lifted their target price on Steel Dynamics from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Monday, June 22nd. Deutsche Bank raised Steel Dynamics from a “hold” rating to a “buy” rating and dropped their target price for the stock from $30.00 to $27.00 in a report on Monday, March 30th. Finally, TheStreet raised Steel Dynamics from a “c+” rating to a “b-” rating in a report on Friday, June 19th.

Steel Dynamics stock traded up $0.51 during mid-day trading on Friday, hitting $26.25. 40,638 shares of the company’s stock traded hands, compared to its average volume of 2,138,522. The firm has a 50 day simple moving average of $26.10 and a two-hundred day simple moving average of $27.25. Steel Dynamics has a fifty-two week low of $14.98 and a fifty-two week high of $35.78. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 8.58, a P/E/G ratio of 1.14 and a beta of 1.44. The company has a debt-to-equity ratio of 0.67, a current ratio of 4.02 and a quick ratio of 2.42.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, April 20th. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. Steel Dynamics had a return on equity of 17.00% and a net margin of 6.39%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the firm posted $0.91 EPS. The company’s quarterly revenue was down 8.6% on a year-over-year basis. On average, research analysts anticipate that Steel Dynamics will post 1.86 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Monday, June 29th. Steel Dynamics’s dividend payout ratio (DPR) is presently 32.26%.

Hedge funds have recently bought and sold shares of the stock. Assetmark Inc. bought a new position in Steel Dynamics in the fourth quarter valued at about $26,000. Westside Investment Management Inc. bought a new position in Steel Dynamics in the first quarter valued at about $4,522,000. Verus Capital Partners LLC bought a new position in Steel Dynamics in the fourth quarter valued at about $36,000. Point72 Hong Kong Ltd grew its position in Steel Dynamics by 147.9% in the fourth quarter. Point72 Hong Kong Ltd now owns 4,051 shares of the basic materials company’s stock valued at $138,000 after acquiring an additional 2,417 shares during the last quarter. Finally, First Quadrant L P CA bought a new stake in shares of Steel Dynamics during the first quarter worth about $94,000. 80.80% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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